Portek Expands Its Terminal Operations Portfolio Through the Acquisition of Mitorient Holding Pte Ltd


Portek Expands Its Terminal Operations Portfolio Through the Acquisition of Mitorient Holding Pte Ltd

5th October 2021


Portek International Pte Ltd has expanded its portfolio of container and multipurpose terminals with the acquisition of 49% of the share capital of Mitorient Holding Pte Ltd (“MHPL”) which entitles Portek to be indirect shareholder of First Logistics Development Company (“FLDC”). FLDC owns and operates Vietnam International Container Terminal (“VICT”), the premier container port project in Ho Chi Minh City, Vietnam. VICT serves both domestic and international markets, handling approx. 600,000 TEUs annually.

Collaborating with established international port operator, CMA CGM Port Terminals (“CCPT”), and reputable Vietnamese logistics operator, Southern Water Transport Corporation (“SOWATCO”), Portek envisions a seamless transition for the acquisition.

FLDC currently owns a concession to operate VICT with 20 hectares of land and more than 650 metres quay, capable of serving approx. 600,000 TEUs annually. Portek will continue to collaborate with CCPT and SOWATCO to build on the current success of the terminal and provide better value to our customers through Portek’s knowledge, experience and solutions as well as Mitsui’s extensive logistics network.

VICT is Portek’s first venture in Vietnam, a fast-growing market in Southeast Asia. Acquisition of VICT would accelerate Portek’s growth strategy, providing an immediate expansion of logistics infrastructure and network in the regions in which VICT operates.

Mr Eiichi Uriu, CEO of Portek commented, “We are pleased to expand Portek’s terminal operations portfolio in Vietnam. We believe that VICT will continuously function to support economic growth in Vietnam, and Portek can contribute to VICT’s stable operation from various aspects through collaboration with CCPT and SOWATCO. Portek is very much keen to expand operation portfolios in both developing and developed countries all over the world by utilizing its expertise in port terminal operations as well as in port equipment engineering.”

About Portek International Pte Ltd

Headquartered in Singapore, Portek is a global medium-sized terminal operator and a one-stop solution provider of port equipment engineering, with offices in over 9 countries throughout Asia, Europe and Africa.

Portek is a subsidiary of Mitsui & Co., Ltd. of Japan, which is a veritable household name with about 140 years of history. Leveraging on Mitsui’s established global network, Portek is able to deliver enhanced knowledge and solutions in port business, as we combine Portek’s niche capabilities and “can-do” spirit with Mitsui’s resources.


For enquiries, please email to enquiry@portek.com.